H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 23, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending January 22 decreased $132 million to $19,216 million. Estimated required reserves decreased $91 million; and estimated excess reserves decreased $4l million to $525 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $170 million; the week before, revised excess reserves were $9 million less than member bank borrowings. The principal changes reducing average reserves were decreases of $315 million in U, S. Government securities bought outright, $90 million held under repurchase agreement, and $220 million in member bank borrowings, and an increase of $37 million in "other" deposits with Federal Reserve Banks, The principal offsetting changes were an increase of $191 million in Federal Reserve float, and decreases of $329 million in money in circulation and $31 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $44l million. As of Wednesday, January 22, holdings of U, S, Government securities bought outright were $299 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $%6 million lower> and member bank borrowings were $107 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 22, 1958 Jan. 15, 1958 I Jan. 23, 1957 (In millions of dollars) Reserve Bank credit: U» S, Government securities— Bought outright—System account 23,266 -315 -545 Held under repurchase agreement 49 - 90 + 49 Acceptances-- Bought outright 4l - 1 + 10 Held under repurchase agreement 3 - 4 + 3 Loans, discounts, and advances— Member bank borrowings 355 -220 + 33 Other 5 - 1 - 21 Float 1,230 +191 -216 Total Reserve Bank credit 24,949 •=WT Gold stock 22,782 + 1 +831 Treasury currency outstanding 5,149 + 2 + 82 52,880 -438 +227 Money in circulation 30,878 -329 + 51 Treasury cash holdings 781 + 10 - 17 Treasury deposits with F, R, Banks 511 + 8 +312 Foreign deposits with F, R, Banks 275 - 31 - 49 Other deposits with F, R. Banks 227 + 37 - 41 Other F, R, accounts (net) 992 - 2 + 98 33,664 -306 +353 Member bank reserves-- 19,216 -132 -126 Required reserves (estimated) 18,691 - 91 - 33 Excess reserves (estimated) 525 - 41 - 93 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 22,782 Treasury cash holdings 788 Treasury currency outstanding 5,150 Member bank) - Required (est,) 18,672 Money in circulation 30,730 reserves ) - Excess (est.) 664 On January 22, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,798 million, an increase of $18 million for the week and an increase of $33 million from the comparable date a year Digitizeda fgoro F.R ASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 22, Jan. 15, Jan. 23, 1958 1958 1957 A S S E TS Gold certificate account 21,230,392 1 + 840,999 Redemption fund for F, R. notes 860,491 1,918 - 15,136 Total gold certificate•reserves 22,090/883 1,919 + 825^3 F, R. notes of other Banks 674,498 + 47,138 + 110,202 Other cash 504,207 + 46,863 + 42,804 Discounts and advances 391,834 + 106,986 + 33,919 Industrial loans 548 + 7 237 Acceptances: Bought outright 38,833 2,989 + 9,004 Held under repurchase agreement 13,218 10,601 + 13,218 U. S. Government securities: Bought outright- Bills 522,073 - 299,400 - 160,402 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 •mm Total bought outright 23,257,435 - 299,400 «... 313,402 Held under repurchase agreement 76,000 " 75,500 + 76,000 Total U. S. Government securities 23,333,435 - 374,900 - .237.402 Total loans and securities 23,777,868 - 260,295 - 181,498 Due from foreign banks 15 7 Uncollected cash items 5,386,947 - 288,121 + 179,414 Bank premises 84,216 + 119 > 9,812 Other assets 272,520 + 13,721 » 19.638 TOTAL ASSETS 52,791,154 - 442,494 + 966.952 L I A B I L I T I E S Federal Reserve notes ~~ 26,855,550 - 192,763 + 88,200 Deposits: Member bank reserves 19,336,022 63,181 + 263,606 U. S. Treasurer—general account 454,329 70,711 + 195,524 Foreign 294,080 + 14,978 - 23,652 Other 203,866 16,889 Total deposits 20,288,297 + 24,337 Deferred availability cash items 4,298,682 - 287,463 + 409,749 Other liabilities and accrued dividends 13,736 -251 1,723 TOTAL LIABILITIES 51,456,265 - 456 7i4o + 876,642 C A P I T AL A C C O U N TS Capital paid in 346,824 357 + 19,713 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts • 151,324 +_ ,,8,992 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,791,154 + 966,952 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9# .2# 1.3# Contingent liability on acceptances purchased for foreign correspondents 114,469 10,591 55,059 Industrial loan commitments 1,063 17 1,299 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 22, 1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U« S. Government advances loans Acceptances securities Within 15 days 389,411 111 28,247 388,850 16 days to 90 days 2,423 29 23,804 5,716,216 91 days to 1 year 285 14,439,112 Over 1 year to 5 years 123 1,374,400 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Digitized for FRTAoStERa l http://fraser.stlouisfed.org/ 391,834 5*8 52,051 23,333,435 Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 22, 1958 St. Minne- Kansas San Total Boston New Xork CS" iRi<:tm°M Atlanta JChicago Dallas delpfala Louis apolis City Francisco (III thousands of dollars) A S S E TS Gold certificate account 21,230,392 1060,0l6 5,945,995 1160,209 1860,427 1283,258 791,621 3829,728 845,550 389,932 852,483 772,559 2438,614 Redemption fund for F. R» notes 860,491 55,594 180,468 60,132 78,817 70,902 48,585 156,306 43,136 22,112 41,419 28,368 74,652 Total gold certificate reserves 22,090,883 1115,610 6,126,463 1220,341 1939,244 1354,160 840,206 3986,034 888,686 412,044 893,902 800,927 2513,266 F.R. notes of other Banks 674,498 45,521 150,762 57,448 57,388 59,702 83,434 61,357 23,771 27,460 11,069 42,656 53,930 Other cash 504,207 31,023 110,577 28,367 42,060 32,371 34,647 76,470 33,909 10,213 16,708 19,504 68,358 Discounts and advances 391,834 16,680 58,780 18,060 86,100 32,141 34,700 73,300 11,725 3,550 27,898 6,750 22,150 Industrial loans 548 327 X9S *»** 23 Acceptances: Bought outright 38,833 — SB/BBS ~- — Held under rep, agree. 13,218 13 y 2X8 «*«• -f* U. S. Govt* securities: Bought outright— Bills 522,073 28,477 130,561 30,474 45,858 33,357 27,041 91,129 21,590 11,266 22,414 20,460 59,446 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,809 781,178 2269,720 Notes Bonds 2,801,750 152,824 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109,798 319,019 Total 23,257,435 1260,600 5,016,243 1357,606 2042,887 1485,987 1204,665 4059,609 961,511 501,095 990,511 911,43b 2640,105 Held under rep. agree. 76,000 76,000 Total U. S. Govt, sees. 23,333,435 1268,600 5,892,243 1357,606 2042,887 1485,987 1204,665 4059,609 961,811 501,895 998,511 911,436 2648,185 Total loans & securities 23,777,868 1285,607 6,003,074 1375,864 2128,987 1518,128 1239,365 4132,909 973,536 505,468 1026,409 918,186 2670,335 Due from foreign "banks 15 1 1/ 4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,386,947 394,413 1,104,816 330,066 468,919 422,600 422,782 862,173 231,539 144,674 250,473 272,185 482,307 Bank premises 84,216 5,010 10,668 4,491 9,638 6,996 6,783 6,823 6,138 5,307 4,926 6,323 11,113 Other assets 272,520 14,682 67,134 15,531 23,852 17,300 14,214 49,015 11,053 5,857 H,58l 11,577 30,724 TOTAL ASSETS 52,791,154 2891,867 13,573,498 3032,109 4670,089 3411,258 2641,432 9174,783 2168,633 1111,023 2215,069 2071,359 5830,034 1/ After deducting $11,000 participations of other Federal Reserve Banks 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 22, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land . Louis apolis City Francisco (in thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,855,550 1599,271 6,321,738 1693,474 2563,541 2135,443 1260,974 5229,495 1204,283 495,322 1055,134 729,828 2567,047 Deposits: Member bank reserves 19,336,022 836,212 5,713,974 900,097 1554,378 811,294 910,215 3015,837 696,861 435,227 874,800 987,208 2599,919 U.S.Treas.-gen.acct. 454,329 29,401 59,218 43,173 39,099 36,425 22,612 51,823 31,660 21,824 40,336 40,896 37,862 Foreign 294,080 15,903 1/93,758 19,251 24,831 14,229 12,555 39,897 10,323 6,696 10,881 14,508 31,248 Other 203,866 203 147,184 9,627 1,649 3,339 1,641 1,274 1,205 284 737 1,232 35,491 Total deposits 20,288,29? 001,719 b,014,134 972,148 1619,957 865,287 947,023 3108,831 740,049 464,031 926,754 1043,844 2704,520 Deferred availability cash items 4,298,682 332,379 866,292 273,764 365,786 339,292 370,619 642,369 172,283 117,781 179,618 228,181 410,318 Other liabilities and accrued dividends 13,736 692 3,448 540 1,815 626 557 2,238 520 571 464 770 1,495 TOTAL LIABILITIES 51,456,265 2814,061 13,205,612 2939,926 4551,099 3340,648 2579,173 8982,933 2117,135 1077,705 2161,970 2002,623 5683,'3S0 CAPITAL ACCOUNTS Capital paid in 346,824 17,762 102,525 21,299 32,776 15,760 16,747 46,846 11,685 7,479 13,961 19,484 40,500 Surplus (Section 7) 809,198 47,013 223,963 55,923 71,550 41,236 36,192 121,504 31,586 19,697 30,533 40,871 89,130 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,i4o Other capital accounts 151,324 10.020 34.079 10,472 13.658 10.265 8.558 22.071 7.706 5.069 7.468 7.074 14.884 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,791,154 2891,867 13,573,498 3032,109 4670,089 3411,258 2641,432 9174,783 2168,633 1111.023 2215,069 2071,359 5830.034 Conting. liab. on acceptances purchased for foreign correspondents 114,469 6,526 2/32,258 7,900 10,191 5,839 5,153 16,374 4,237 2,748 4,465 5,954 12,824 --f FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,257,294 1689,418 6,713,334 1780,857 2667,237 2225,872 1348,559 5409,362 1259,023 533,541 1090,068 782,528 2757,495 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,253,000 700,000 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 140,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 57,683 —- -- 18,060 — - -— — — — 11,725 —- 27,898 — -— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17.165.000 1150.000 3,600.000 1200.000 1600.000 1350.000 1000.000 3100.000 895.000 425,000 820.000 525.000 1500.000 TToottaall ccoollllaatteerraall 29,475,683 1850,000 6,870,000 1858,060 2730.000 2265.000 1425.000 5600.000 1356.725 565.000 1147.898 808.000 3000.000 „ ,322,000 participations T 2/ After deducting $82,211,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis